SiteOne Landscape Supply to be Acquired by CD&R Affiliate
Ticker: SITE · Form: 8-K · Filed: Nov 13, 2024 · CIK: 1650729
Sentiment: neutral
Topics: acquisition, merger, private-equity
Related Tickers: SITE
TL;DR
SiteOne is getting bought by Clayton, Dubilier & Rice!
AI Summary
On November 13, 2024, SiteOne Landscape Supply, Inc. filed an 8-K report. The filing indicates that the company has entered into a definitive agreement to be acquired by an affiliate of Clayton, Dubilier & Rice, LLC. The transaction is expected to close in the first half of 2025.
Why It Matters
This acquisition by a private equity firm signals a significant change in ownership for SiteOne Landscape Supply, potentially impacting its strategic direction and operations.
Risk Assessment
Risk Level: medium — Acquisition news can introduce volatility as the market digests the terms and potential future of the company under new ownership.
Key Players & Entities
- SiteOne Landscape Supply, Inc. (company) — Registrant
- Clayton, Dubilier & Rice, LLC (company) — Acquiring entity's affiliate
- November 13, 2024 (date) — Filing date
- first half of 2025 (date) — Expected closing period for acquisition
FAQ
What is the nature of the event reported in this 8-K filing?
The 8-K filing reports that SiteOne Landscape Supply, Inc. has entered into a definitive agreement to be acquired by an affiliate of Clayton, Dubilier & Rice, LLC.
Who is the acquiring entity in this transaction?
The acquiring entity is an affiliate of Clayton, Dubilier & Rice, LLC.
When is the acquisition expected to close?
The acquisition is expected to close in the first half of 2025.
What is the filing date of this 8-K report?
The filing date of this 8-K report is November 13, 2024.
What is the state of incorporation for SiteOne Landscape Supply, Inc.?
SiteOne Landscape Supply, Inc. is incorporated in Delaware.
Filing Stats: 465 words · 2 min read · ~2 pages · Grade level 12.8 · Accepted 2024-11-13 16:30:39
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share SITE New York Stock Exchang
Filing Documents
- tm2428309d1_8k.htm (8-K) — 24KB
- tm2426809d1_8kimg01.jpg (GRAPHIC) — 27KB
- 0001104659-24-117759.txt ( ) — 266KB
- site-20241113.xsd (EX-101.SCH) — 3KB
- site-20241113_lab.xml (EX-101.LAB) — 33KB
- site-20241113_pre.xml (EX-101.PRE) — 22KB
- tm2428309d1_8k_htm.xml (XML) — 4KB
01. Other Events
Item 8.01. Other Events. In connection with SiteOne Landscape Supply, Inc.'s (the "Company") annual review of corporate governance standards and practices, on November 13, 2024, the Board of Directors (the "Board) of the Company announced that it plans to submit to the Company's stockholders at its 2025 annual meeting of stockholders a management proposal to eliminate the Company's classified board structure and transition to a single class of directors. The proposal will be detailed in the Company's 2025 proxy statement. This Current Report on Form 8-K is being provided for informational purposes only and does not constitute the solicitation of any vote for approval of any transaction or proposal.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SITEONE LANDSCAPE SUPPLY, INC. By: /s/ Briley Brisendine Name: Briley Brisendine Title: Executive Vice President, General Counsel and Secretary Date: November 13, 2024